India’s private corporate sector reported a pick-up in capital expenditure (capex) in the current financial year, but investment plans signal a noticeable moderation heading into FY27, according to the latest forward-looking survey released by the National Statistics Office (NSO) on Monday. The companies surveyed estimated provisional aggregate capex on new assets at Rs 11.44 lakh crore for FY26. However, forward intentions for FY27 dropped to Rs 9.55 lakh crore, reflecting a 16.5% decline in planned spending.